Take from this article whatever you want. It simply proves Frank was far more involved in the problem than you are willing to admit and that while this was a bi-partisan mess, he tried to stop Republicans from correcting it earlier in the decade.

And the Boston Globe is actually a left leaning newspaper.

Republicans wanted to stop it???

Thats a joke....

It was bi partison...But Bush and his senate ignored it like everything else that was going on......

Quote:

In 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009. He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush. The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters." Once control shifted to the Democrats, Frank was able to help guide both the Federal Housing Reform Act (H.R. 1427) and the Mortgage Reform and Anti-Predatory Lending Act (H.R. 3915) to passage in 2007. Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown. Frank further stated that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac. In 2007, a few months after I became the Chairman, the House passed a strong reform bill; we sought to get the [Bush] administration's approval to include it in the economic stimulus legislation in January 2008; and finally got it passed and onto President Bush's desk in July 2008. Moreover, "we were able to adopt it in nineteen months, and we could have done it much quicker if the [Bush] administration had cooperated."

And no I don't care what a Bush advisor is quoted as saying in an op-ed piece. Again, just because Karl Rove tells me Republican politicians are the champions of some issue doesn't mean I take his word as gospel.

Now that would be a poor example..If Karl Rove told you the dems were champion on an issue that would be an example(which he wouldn't do)

This was a republican saying that Frank was saving the day, or trying but Bush wouldn't hear it.

The republicans had control and sat on there hands..Watched the bubble burst

Take from this article whatever you want. It simply proves Frank was far more involved in the problem than you are willing to admit and that while this was a bi-partisan mess, he tried to stop Republicans from correcting it earlier in the decade.

And the Boston Globe is actually a left leaning newspaper.

Quote:

But Frank said that putting blame entirely on him is unfair — and several independent analysts agree. They said Republicans also failed to take warning signs seriously enough to avert disaster, despite controlling the White House and both houses of Congress between 2003 and 2007, a crucial period leading up to the Fannie and Freddie failures.“Selling Fannie and Freddie as a purely partisan issue, it doesn’t really work,’’ said Jonathan Koppell, director of the School of Public Affairs at Arizona State University. “Both parties have plenty of responsibility.’’

Now this is from your story!..You came on here blaming Barney Fwank...

All i did was point out that it was not Frank..And i was accused of being a Democrat with blinders..

Fwank tried to stop a mess that was bipartison but the republicans kept it rolling...They had the houses and did nothing!....You blamed fwank...Fox News don't tell you that part

Like I said, this is pointless. You take one snippet from the article and ignore the rest that proved you were wrong in saying Barney was some sort of savior. That was the whole point of the article, he was a big part of the mess. Just because Barney claims innocence doesn't mean he's honest about it.

The issue that day in 2003 was whether mortgage backers Fannie Mae and Freddie Mac were fiscally strong. Frank declared with his trademark confidence that they were, accusing critics and regulators of exaggerating threats to Fannie’s and Freddie’s financial integrity. And, the Massachusetts Democrat maintained, “even if there were problems, the federal government doesn’t bail them out.’’

In BusinessWeek.com, Maria Bartiromo reports that she asked the former President last week whether he regretted signing that legislation. Mr. Clinton’s reply: “No, because it wasn’t a complete deregulation at all. We still have heavy regulations and insurance on bank deposits, requirements on banks for capital and for disclosure. I thought at the time that it might lead to more stable investments and a reduced pressure on Wall Street to produce quarterly profits that were always bigger than the previous quarter.“But I have really thought about this a lot. I don’t see that signing that bill had anything to do with the current crisis. Indeed, one of the things that has helped stabilize the current situation as much as it has is the purchase of Merrill Lynch by Bank of America, which was much smoother than it would have been if I hadn’t signed that bill.”

Doh! The most popular, effective Democrat president this side of FDR doesn't blame the bill sponsored by Republicans (and supported by a majority of Democrats and a Democrat president).

Will Kev turn on one of his heroes? Stay tuned for the next episode of "Jersey Shore".

Now i thought you just said both sides were to blame?? and it was us who were blamming the republicans..

I just simply posted what is fact that Frank(the guy that you are blaming for the entire housing problem)was actually trying to fix it but the Bush lead republican senate would have nothing of it.All you had to do was read. Without fox news blinders

(CBS/AP) Fox News Channel's Bill O'Reilly said Thursday he and a former producer of his talk show have agreed to settle their legal dispute over her allegations of sexual harassment, and his accusations that she was trying to shake him down.

"This brutal ordeal is now officially over, and I will never speak of it again," he said on his talk show, "The O'Reilly Factor."

Andrea Mackris, 33, who was a producer on the show, filed a lawsuit against the top-rated TV host Oct. 13, alleging O'Reilly made a series of explicit phone calls to her, advised her to use a vibrator and told her about sexual fantasies involving her.

The New York Daily News, citing unidentified sources, reported that O'Reilly had agreed to pay Mackris anywhere from $2 million to $10 million. Separately, the New York Post said it was believed that O'Reilly paid "multimillions of dollars" to settle the suit

darn, good job. You just won the argument for who is responsible for this housing crisis.

Frank, in his most detailed explanation to date about his actions, said in an interview he missed the warning signs because he was wearing ideological blinders. He said he had worried that Republican lawmakers and the Bush administration were going after Fannie and Freddie for their own ideological reasons and would curtail the lenders’ mission of providing affordable housing.

“I was late in seeing it, no question,’’ Frank said about the lenders’ descent into insolvency.

The funny thing is all I said was Frank and Dodd should be investigated and I guess that meant I'm blaming the entire thing on Barney Frank. Its not a secret that they received large amounts of money to protect Fannie.

And I stand by my comments about Frank being a miserable person. Just listen to any interview where someone challenges his positions and watch him storm off in a tirade as though the interviewer accused him of running an illegal prostituion ring out of his apartment...oops.

I'm glad we now understand that blaming the Glass Stegal repeal does not exonerate Frank's blatantly inept use of the Community Reinvestment Act to make sure bad loans were secured for unqualified people. Not predatory, just bad.

(CBS/AP) Fox News Channel's Bill O'Reilly said Thursday he and a former producer of his talk show have agreed to settle their legal dispute over her allegations of sexual harassment, and his accusations that she was trying to shake him down.

"This brutal ordeal is now officially over, and I will never speak of it again," he said on his talk show, "The O'Reilly Factor."

Andrea Mackris, 33, who was a producer on the show, filed a lawsuit against the top-rated TV host Oct. 13, alleging O'Reilly made a series of explicit phone calls to her, advised her to use a vibrator and told her about sexual fantasies involving her.

The New York Daily News, citing unidentified sources, reported that O'Reilly had agreed to pay Mackris anywhere from $2 million to $10 million. Separately, the New York Post said it was believed that O'Reilly paid "multimillions of dollars" to settle the suit

darn, good job. You just won the argument for who is responsible for this housing crisis.

Wasn't Frank banging some dude from Fannie or Freddy? Conflict of interest perhaps? Like Jammer said, he should be investigated, the things these guys get away with.

Yes, Frank was dating a manager type at Fannie Mae and receiving large campaign contributions from them. He also had a boyfriend running a brothel out of his condo in DC and was hanging out on a farm in Maine where the owner just happened to be arrested for growing fields of marijuana. Frank's defense was that he didn't know what was going on in his own house and he didn't know what a marijuana plant looked like.

Don't throw stones in glass houses...But that is the teabagger fox news way

Maybe you should Occupy another website

BTW, might want to do your homework first before commenting. Gingrich received money as a private consultant while not in elected office and after Fannie and Freddie were exposed. Thats a bit different than receiving large campaign contributions for over a decade. Try again.

Don't throw stones in glass houses...But that is the teabagger fox news way

Maybe you should Occupy another website

BTW, might want to do your homework first before commenting. Gingrich received money as a private consultant while not in elected office and after Fannie and Freddie were exposed. Thats a bit different than receiving large campaign contributions for over a decade. Try again.

It's just sad as a teabagger you would defend such a thing...And he did lobby for F+F(even republicans say that), GET A CLUE and do your own homework.Those bad occupy people trying to stop tax payer money from going to big oil companies. and bankers..Oh you teabaggers

But yes, apparently I'm a card carrying member of the tea party and lining up to vote for Gingrich. You really got me figured out.

And man you need to work on reading comprehension. I didn't say Gingrich did something good, I simply pointed out he was hired as a private consultant for a short period of time. That is different than a decade of political contributions to elected officials in lobbying efforts.

No offense anyone & I know for whatever reason people get so passionate about politics & have their favorite party & despise the other party (like any party is really good & moral) but does anyone truly think that these politicians whatever party they are on & whatever rah rah speeches they give really pay attention to the needs of Americans like us. They have their own club , & are in this to stay up with their cliques. They get the best of everything , pay for nothing & enter their jobs for the most part as upper middle class & leave as multi millionaires who are then set for life while the struggles still persist for all of us. Shouldnt that tell us something?

No offense anyone & I know for whatever reason people get so passionate about politics & have their favorite party & despise the other party (like any party is really good & moral) but does anyone truly think that these politicians whatever party they are on & whatever rah rah speeches they give really pay attention to the needs of Americans like us. They have their own club , & are in this to stay up with their cliques. They get the best of everything , pay for nothing & enter their jobs for the most part as upper middle class & leave as multi millionaires who are then set for life while the struggles still persist for all of us. Shouldnt that tell us something?

They pay millions to get a job that pays a couple hundred thousand.....

And you are right both parties do alot of the same stuff, like lobby for 2 million dollars...Some people just think it's one sided..

And when you show them this ...Said people then go on to stick up for them as if were ok ...

Like one guy should be investigated and the other, well he did it a little more sneaky so it's ok